Kim Eng Securities Thailand) Public Company Limited · increased from 2,248 contracts in Jan - Dec 2008 to 2,720 contracts in Jan –Dec 2009, representing an increase by 21%. In

Kim Eng Securities (Thailand)

Public Company Limited

Opportunity Day

24th February, 2010

The Stock Exchange of Thailand

2

KEST’s History1990 Nithipat Capital Co., Ltd established in October 1990

1996 Becomes Nithipat Capital and Securities Co., Ltd (NICS)

1998 Kim Eng Holdings Ltd. gains total control of NICS

2001 Kim Eng merges with Yuanta; acquires 77.73% of Yuanta (Thailand) Co., Ltd

2002 Kim Eng secures number 1 position in terms of brokerage market share

2003 - Launched online trading service, KETRADE

- Kim Eng listed on the SET – 3rd December 2003

2004 KEST is in MSCI Index and SET50 Index

2005 Received Derivatives Agent and Stock Borrowing and Lending licenses from the Ministry of Finance on 17 August and 26

December respectively

2006 Launched derivatives business on Thailand Futures Exchange (TFEX), with SET50 Index Futures

“Most Popular House 2006” at TFEX Best Awards 2006

2007-2008 Awarded Best Research House – Retail for 2 consecutive years

2009 Kim Eng maintained its premier position in term of top ranking brokerage market share for 8 consecutive years since 2002-

2009; and also number one of market share in derivatives from Jan - Dec 2009.

3

Organization Structure

Marketing Trainee

Internal Audit & Compliance

Management Committee (MANCOM)

Chief Executive Officer(CEO)

General Risk Management

Research

Derivatives

Investment Banking

Corporate Com. & Training

Business Development

Board of Directors

Audit CommitteeRisk Management

Committee

E-Commerce

Retail Sales & Dealing

Retail 1

Retail 2

Foreign Institutional

Local Institutional

Institutional Sales

Human Resources

Treasury/Cashiers

Settlement/Custodian

Accounting

General Services

Corporate Legal

Chief Operating Officer(COO)

Underwriting Committee

Investment Committee (IC)

OperationClient Service

Information and Technology

Chief Fin. Officer

Client Credit &

Risk Control

CG Committee

Chief Executive Officer(CEO – Retail Business

Development)

4

Board of Directors

Honorary Chairperson ; Mrs. Gloria Lee Kim Yew

The Board of Directors ;

1 Mr. Yuth Vorachattarn Chairman to the BOD & Audit Committee Member

2. Dr. Paiboon Sareewiwatthana Director & Chairman to the Audit Committee

3. Dr. Preecha Jarungidanan Director & Audit Committee Member

4. Mr. Ronald Anthony Ooi Thean Yat Director

5. Mr. Montree Sornpaisarn Director

6. Mr. Judd Clark Kinne Director

7. Mr. Hwang Wei Cherng Director

8. Mr. Tan Pei-San Director

9. Mr. Pusit Kaewmongkolsri Director

KEST’s Management Committee comprises 6 members, as below

1. Mr. Montree Sornpaisarn Management Committee Chairman

2. Mr. Pusit Kaewmongkolsri Management Committee Member

3. Mr. Supachai Ekkul Management Committee Member

4. Ms. Boonporn Boriboonsongsilp Management Committee Member

5. Mr. Ong Cheow Kheng Management Committee Member

6. Mr. Kosit Boonruangkaw Management Committee Member

5

Bangkok

14 Branch

Korat 1

Branch

Mahachai

1 Branch

Had Yai

2 Branch

Phuket

1 Branch

Chiang Mai

2 Branch

Chantburi

1 Branch

Surin

1 Branch

Ubonratchathani

1 Branch

Lampang

1 Branch

Surat Thani

1 Branch

Cholburi

1 Branch

Rayong

1 Branch

Samut

Songkhram

1 Branch

Aranyaprathet

1 Branch

Korat 2

Branch

Background of KEST

KEST commits itself to provide

brokerage services in Thailand.

KEST has total 42 branches

including head office; 24 branches in

Bangkok, 17 branches in the

provinces. KEST enjoys an unique

position having “Local Leadership”

with a global reach.

Had

Yala

1 Branch

As of August 2008

Phahurat

Ladprao

Ngarmvongvarn

SeaconYada

EmporiumThapra

Asoke

Srinakarin

Future ParkRungsit

Bangkhae

Yaowarat

Pinklao

Thaniya

Head

Office

Satornnakorn

Town in Town

Fashion Iceland

ThailandThailand MalaysiaMalaysia SingaporeSingapore IndonesiaIndonesia PhilippinesPhilippines Hong KongHong Kong

LondonLondonNew YorkNew York

ThailandThailand MalaysiaMalaysia SingaporeSingapore IndonesiaIndonesia PhilippinesPhilippines Hong KongHong Kong

LondonLondonNew YorkNew York

Vietnam

Thailand

ThailandIndia

6

0%

20%

40%

60%

80%

100%

2006 2006 2007 2007 2008 2008 2009 2009

0

2

4

6

8

10

12

14

Local Investors Foreign Investors

Local Institutes MKT. SHARE

KEST’s Highlights

Market Share 2009 (%)

Portion of each Customer Type of market and KEST’s market share

Local Investors

Local Institutes

Baht 4,528.86 million shareholder’s equity with NCR of

180.26% as of 31 December, 2009.

918 total staffs, which include

- 567 marketing officers; largest among brokers

- 28 research analysts, covering economic,

fundamental and technical analysis.

- 18 investment banking staff covering debt & equity

capital markets and offering financial advisory

services.

- 3 derivatives staff managing derivatives products.

42 branches including head office

Awarded Best Research House 2008 : Retail and Best

Analyst in Energy & Petrochemicals (Retail)

Awarded Best Shareholder Treatment Awards 2008

Jan-Dec 2009 Equity Futures

Market share 10.68% 10.75%

Ranking 1 1

2.01

2.15

2.19

2.27

2.39

2.5

2.54

2.6

2.84

2.99

3.29

3.36

3.88

4.08

4.38

4.45

4.83

5.11

5.47

5.71

10.68

DBSV

FSS

MACQ

GLOBL

KS

SCBS

TSC

CNS

UBS

BFITSE

AYS

CS

KGI

BLS

TNS

PHATR

CGS

PST

KTZ

ASP

KIMENG

KEST’s market share (%)Portion of each Customer Type

Foreign Investors

7

Breakdown Of KEST Customers

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

70.00%

80.00%

90.00%

100.00%ม

.ค.

07

ก.พ

. 07

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. 07

เม.ย

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พ.ค

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ส.ค

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. 07

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พ.ย

. 07

ธ.ค

. 07

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ก.พ

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ก.พ

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เม.ย

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พ.ค

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ต.ค

. 09

พ.ย

. 09

ธ.ค

. 09

Retial Foreign Local

Customer Breakdown

Retail, foreign and local institutional customers respectively accounted for 90%, 6%

and 4% of KEST’s brokerage business during January – December 2009.

8

Market Share By Customer Type

Market share of each KEST's customer type to market sector

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

16.00%

18.00%

ม.ค./

07

ก.พ./

07

ม.ีค./

07

เม.ย./

07

พ.ค./

07

ม.ิย./

07

ก.ค./

07

ส.ค./

07

ก.ย./

07

ต.ค./

07

พ.ย./

07

ธ.ค./

07

ม.ค./

08

ก.พ./

08

ม.ีค./

08

เม.ย./

08

พ.ค./

08

ม.ิย./

08

ก.ค./

08

ส.ค./

08

ก.ย./

08

ต.ค./

08

พ.ย./

08

ธ.ค./

08

ม.ค./

09

ก.พ./

09

ม.ีค./

09

เม.ย./

09

พ.ค./

09

ม.ิย./

09

ก.ค./

09

ส.ค./

09

ก.ย./

09

ต.ค./

09

พ.ย./

09

ธ.ค./

09

IS LI Retail

Market Share of KEST by Customer Type

Date Retail Foreign Institution

Jan-07 11.38% 3.22% 2.34%

Feb-07 11.75% 4.26% 3.03%

Mar-07 10.96% 2.18% 2.14%

Apr-07 11.23% 4.84% 2.93%

May-07 11.36% 2.39% 3.12%

Jun-07 12.23% 2.93% 1.82%

Jul-07 12.00% 3.87% 1.78%

Aug-07 12.55% 4.83% 2.29%

Sep-07 11.98% 2.59% 1.71%

Oct-07 12.58% 4.30% 1.84%

Nov-07 13.58% 4.16% 1.91%

Dec-07 12.92% 4.35% 2.00%

Jan-08 12.86% 3.64% 2.42%

Feb–08 12.89% 3.95% 2.95%

Mar-08 12.50% 2.06% 1.97%

Apr-08 13.26% 3.54% 2.02%

May-08 13.70% 3.26% 1.85%

Jun-08 12.35% 3.21% 2.76%

Jul-08 11.76% 2.41% 1.71%

Aug-08 12.07% 3.03% 1.87%

Sep-08 12.00% 3.18% 1.83%

Oct-08 12.69% 2.65% 1.32%

Nov-08 12.60% 2.24% 1.28%

Dec-08 14.52% 3.15% 1.92%

Jan-09 15.46% 1.41% 2.01%

Feb-09 14.22% 4.72% 2.57%

Mar-09 14.64% 4.67% 2.99%

Apr-09 14.87% 1.93% 2.85%

May-09 16.29% 2.72% 1.69%

Jun-09 15.29% 3.54% 1.28%

Jul-09 15.88% 3.96% 1.59%

Aug-09 15.50% 4.15% 1.90%

Sep-09Oct-09Nov-09Dec-09

15.56%14.95%15.40%15.86%

2.97%

4.14%

4.47%

2.18๔

1.60%

4.39%

5.00%

3.30%

KEST’s market share among domestic retail market in 2009 improved to

be 14-16% level.

KEST’s foreign investor market share in 2009 dropped to 2-4% on stiff

competition from brokers with new, exclusive partnerships with foreign

firms and wholly owned subsidiaries of Thai financial institutions.

All market share numbers were distorted by proprietary trading portion

which was 7.34%, 9.84% in 2007 – 2008 and 12.46% in the first 10 month

of 2009.

Since November, the SET has published proprietary trading on monthly

basis. Therefore, our market share among LI became 4 - 5%.

9

Derivatives Brokerage Business

In Jan – Dec 2009, KEST’s Brokerage fee from Derivatives Business was 206 million baht compared to

177 million baht in Jan - Dec 2008, representing the revenue growth of 16%. KEST’s average daily volume

increased from 2,248 contracts in Jan - Dec 2008 to 2,720 contracts in Jan – Dec 2009, representing an

increase by 21%. In Jan - Dec 2009, the overall derivatives trading value represented 30% of the cash

market. In Jan – Dec 2009, KEST ranked No.1 in term of market shares that accounted for 10.75% of the

total volume in the derivatives market.

KEST's Derivatives Volumes and Market Share(%)

(Year 2008)

41,672

35,488

14,444

28,85831,384

44,919

59,475

83,085

49,263

89,532

51,818

25,413

15.10%

12.88%

11.31%11.91%

9.60%

11.39%

12.87%

11.16%

14.42%14.12%

12.32%

14.33%

0

20,000

40,000

60,000

80,000

100,000

120,000

Jan-08

Feb-08

Mar-08Apr-0

8

May-08Jun-08

Jul-08

Aug-08

Sep-08Oct-0

8Nov-0

8

Dec-08

Vo

lum

e(C

on

tracts

)

0%

2%

4%

6%

8%

10%

12%

14%

16%

Mark

et

Sh

are

(%)

Volume

M kt Share

KEST's Derivatives Volumes and Market Share(%)

(Year 2009)

54,387

39,25036,06733,944

55,72761,621

65,957

76,729

64,02167,835

59,042

46,390

10.96%10.37%

14.09% 14.40%

9.81%

11.66%

10.35%

9.06%

10.67%

11.14%

10.19% 10.09%

0

20,000

40,000

60,000

80,000

100,000

120,000

Jan-09

Feb-09

Mar-09Apr-0

9

May-09Jun-09

Jul-09

Aug-09

Sep-09Oct-0

9Nov-0

9

Dec-09

Vo

lum

e(C

on

tracts

)

0%

2%

4%

6%

8%

10%

12%

14%

16%

Mark

et

Sh

are

(%)

Volume

M kt Share

10

Customer Accounts with Dormant A/C

12-A

Number of Accounts Dec 08 Dec 09 %

Change

Jan 10 %

Change

Total Equity Account 57,093 73,246 28.29% 74,009 1.04%

Internet Accuont 12,474 21,280 70.59% 21,806 2.47%

Credit Balance Account 694 969 39.63% 988 1.96%

Cash Account 43,925 50,997 16.10% 51,215 0.43%

Futures Account 2,057 3,604 7775.21% 3,695 2.52%

Number of

Active Account

Dec 07 Dec 08 %

Change

Jan 10 %

Change

Total Equity Account 25,869 33,528 29.61% 33,982 1.35%

Internet Account 6,151 10,972 78.38% 11,323 3.20%

Credit Balance Account 315 492 56.19% 509 3.46%

Cash Account 19,403 22,064 13.71% 22,150 0.39%

Futures Account 992 1,529 54.13% 1,574 2.94%

At the end of January

2010, KEST had 74,009

equity accounts and 3,695

futures accounts.

29.46 % were internet

accounts,1.33% margin

accounts and the rest were

cash accounts with credit

lines.

49.92% of equity accounts

and 42.60% of futures

accounts were active

accounts.

Outstanding loans on

margin accounts at the end

of January 2010 totally Baht

1,800 million.

Short sell value at the end

of January 2010 totaled Baht

76 million.

There were no defaults on

KEST margin accounts.

11

Samples of Our Innovations

KEST always develop our information and communication technology to support an efficient tool for our

investors, both professional fund managers and retail investors.

1st Thai broker with live research analysis via internet (kelive TV) both fundamental and technical analysis.

Real time stock information and trading via PDA.

12-A

12

KEST’s Track Record from 2003 to 2008

BLCP Power

2003

FA for

Connected transaction

Global Thai Finance

2003

IFA on divesture of GTF in GTS

CH.Karnchang

2004

FA on issue Right Warrants and ESOP Warrants

Siam General Factoring

2004

IFA on Connected Transaction for Acquiring

Global Thai Finance’s shares

Siam Cement

2004

Tender Agent

for Acquisition of

TPC shares NPC Shares

Thai Military Bank

2004

IFA on Connected Transaction for Acquiring

DTDB & IFCT

LPN Development

2004

FA for share valuation on one of its subsidiary

Matching Studio

2004

IFA for Tender Offer waiver (whitewash)

CS Loxinfo

2005

FA for Valuation of Teleinfo Media

Bangchak Pertroleum

2005

IFA for Connected Transaction and Whitewash

GMM Media

2005

IFA on Connected Transaction for Share

Acquisition in

MATI and POST

Manecomp Precision Technologies

2005

Tender Offer Preparer and Tender Offer Agent

Industrial Estate Authority of Thailand

2005

Co-FA for Study on Potential Privatization

Millennium Steel

2006

IFA on Tender Offer byTata Steel and NatSteel

Bank of Ayudhya

2006

IFA on Whitewash, PP at low price to GE and asset

acquisition from GE

IAG Group

2006

Tender Offer Preparer& Tender Agent

for Acquisition of

Safety Insurance Shares

Thai Military Bank

2008

IFA on Connected Transaction and T/O Waiver for ING Bank

M&A and Financial Advisory

Ocean Life Insurance

2008

Financial Advisor on Joint Venture with Dai-ichi

Life Insurance

Thai–German Ceramic Industry

2008

IFA on Tender Offer by Ceramic Cementhai

Golden Land Property Development

2008

FA on Issuance of ESOP Warrant

PTT

2008

FA on Acquisition Strategy of a listed

company

Charernkit Enterprise

2009

FA on Acquisition & Backdoor listing of MEDIAS

Tender Offer Preparer

& Tender Agent

Kasikorn Thai Bank

2009

IFA on Acquiring

Muang Thai Insurance

TSFC Securities

2009

FA on Debt & Capital Restructuring

Loan Arranger

Siam Cement Group

2009

FA on Share Valuation

of their investment in aNon-listed Company

Thai Credit Bank

2009

FA on Acquiring of

a Leasing Company

Bangchak Petroleum

2009

FA on Enhancing Liquidity& Firm Value

Bangchak Petroleum

2009

FA on EJIP Program

http://www.csloxinfo.com/index.asp

13

KEST’s Track Record from 2005-2009

Equity Capital Market

Italian Thai Development

2005Co-Lead Manager

Issue Size: 4,600 MB

Bangsaphan Barmill

2005Lead Underwriter

Issue Size: 860.7 MB

Salee Industry


Issue Size: 99.7 MB

Shin Satellite

2005Co-Lead Manager


Phatra Securities



M.C.S. Steel


Issue Size: 336 MB

Indorama Polymers

2005Co-Lead UnderwriterIssue Size: 1,200 MB

UOB KayHian


Issue Size: 465 MB

Thai Ha

2005Lead UnderwriterIssue Size: 66 MB

TRC Construction



Interhides



Bangkok Metro


Issue Size: 3,661.24 mil.

Sena Development


Issue Size: 396 mil.

Siam Global House


Issue Size: 663 mil.

14

SIS Distribution (Thailand) Plc.

2004

Lead Underwriter


C.M. Organizer

2004

Lead Underwriter


Dhanamitr Factoring

2004

Lead Underwriter

Issue Size: 57.2 MB

DCON Products

2004

Lead Underwriter

Issue Size: 370 MB

Hwa Fong Rubber (Thailand)

2003

Lead Underwriter

Issue Size: 412 MB

Eastern Commercial Leasing Plc.

2004

Lead Underwriter


Airport (Thailand) Plc.

2004

Senior Co-Manager


Equity Capital Market

Chonburi Concrete Product

2003

Lead Underwriter

Issue Size: 550 MB

Bangpakong Terminal

2003

Lead Manager

Issue Size: 392 MB

Thai Mitsuwa

2003

Lead Manager


Tycoons Worldwide Group(Thailand)

2003

Lead Underwriter


TPI Polene

2004

Underwriter


Syrus Securities

2004

Lead Underwriter

Issue Size: 660 MB

Globlex Holding Management

2004

Lead Underwriter


Univenture

2003

Lead Manager


Vanachai Group

2003

Lead Manager

Issue Size: 640 MB

Krungthai Bank

2003

Co-lead Underwriter


Polyplex (Thailand)

2004

Co-lead Underwriter


Thainox Stainless

2004

Co-Lead Manager


Tapaco

2004

Lead Underwriter

Issue Size: 56.5 MB

Siam City Bank

2003

Lead Underwriter


Our Commitment You Can Trust !!!

15


Premier Resort Krabi

2003

Lead Manager

Secured Amort. Debenture

Issue Size: 850 MB

Cental Pattana

2003

Lead Manager

Property Fund


Preuksa Real Estate

2003

Lead Manager

Unsecured Amort. Debenture

Issue Size: 500 MB

Sahaviriya Steel

2003

Lead Manager



Loxley

2003

Lead Manager

Unsecured Amort. Debenture


Vanachai Group

2003

Lead Manager



Cental Pattana

2003

Lead Manager

Property Fund


Debt Capital Market

Ratchthani Leasing

2003

Lead Manager



Central Hotels & Resort

2003

Lead Manager

Property Fund Issue Size: 800 MB

16

IB’s Mandated & Potential Deals

Product Type Deals

1. M&A 5 -10

2. Property Fund (REIT) 2 - 3

3. Initial Public Offering (IPO)/Added on

Public Offering

5 -10

4. Equity/Private Placement 1 - 2

5. Fixed Income 2 - 3

6. Financial Advisory (FA) - Others 2 - 4

Deals by Products in pipeline

17

SET Awards 2008

Best Shareholder Treatment Awards 2008 :

KEST has been awarded to be “Best Shareholder Treatment Awards 2008” for the listed

company which has applied Good Corporate Governance Principles to protect shareholders

rights and encourage shareholders to utilize their legal rights.

Best Securities Company Award 2008 :

KEST has been awarded as 1 of the 6 finalist for the Best Securities Company Award 2008.

Best Securities Company Award 2008 Best Shareholder Treatment Awards 2008

18

SAA – Securities Analyst Award 2007 - 2008It is an honor again that Kim Eng Securities (Thailand) Plc. has won “the Best Research House for Retail Investors” from Securities

Analyst Awards for two consecutive years, 2007 – 2008, organized by the Securities Analysts Association of Thailand. Moreover, in

2007, our analysts also won best medium and small caps analyst for institutional investors and retail investors. In 2008, we also won

Best Research Analyst in Energy Sector for retail investors. We see this as a recognition of our research staff hard work and

dedication to provide the best quality research service to our clients and also see it as encouragement to deliver the best quality to our

clients.

Best Analyst –

Medium & Small

Capitalization (Institution)

2007

Best Analyst –

Medium & Small

Capitalization (Retail)

2007

Best Research House

(Retail) 2007Best Research House

(Retail) 2008

Best Analyst –

Energy Sector

(Retail) 2008

19

In the "SET AWARDS 2006” ceremony, Kim Eng Securities (Thailand) Plc. has been short-listed top 3 firms

for 3 awards:, Best Brokerage Services – Retail, Best Research House – Retail, and Best Performance –

Financials

This follows the company’s success at the “SET AWARDS 2004” event where KEST was short-listed top 3

firms for 4 awards: FA for Best Newly-Listed Company, Best Newly-Listed Company, Best Brokerage House

Service – Retail and Best Research House – Retail.

Best Performance - Financials

Best Brokerage Services – Retail Best Research House - Retail

SET AWARDS 2006

20

We have been selected by the Money and Banking

Magazine as “Broker of the Year for 2005 & 2006” as

we have maintained our No. 1 Broker position in

market share for 4 consecutive years from 2002

through 2005. In 2005, we attained our No. 1 ranking

with a 10.20% market share, while holding a 9.31%

market share in the 1st quarter of 2006.

This is coupled with our number 1 status for Thailand

Equity Offerings ranked by Bloomberg for the 1st half

of 2005. We wish to thank all our valued clients who

place their trust in us. We believe that our success is

built by the strong team work of our staff in Marketing,

Investment Banking, Research Dept., back office

functions and in IT. As a result, we have created a

number of innovative services; On-line Trading,

KETrade (On-line Trading via Internet.), KELive

(Research and archives) and KELive TV (Live TV

reports).

“Broker of the Year 2005 & 2006”

selected by the Money and Banking Magazine

21

Financial Highlights

22

Revenue Structure

Jan. - Dec. Jan. - Dec. Jan. - Dec. Jan. - Dec.

Bt. Million % Bt. Million % Bt. Million % Bt. Million %

1. Brokerage fee from Securities Business2,116.36 82.44% 1,511.00 76.91% 1,618.63 82.12% 1,645.15 83.49%

2. Brokerage fee from Derivatives Business 206.72 8.05% 177.95 9.06% 89.54 4.54% 15.60 0.79%

3. Fee and Services income 63.66 2.48% 36.07 1.84% 24.64 1.25% 62.06 3.15%

4. Gain(loss) on trading in securities 10.80 0.42% -6.62 -0.34% 6.91 0.35% 2.92 0.15%

5. Gain(loss) on trading in derivatives -0.17 -0.01% (0.57) -0.03% -0.16 -0.01% (0.23) -0.01%

6. Interest & dividend income 77.87 3.03% 148.56 7.56% 138.57 7.03% 170.65 8.66%

7. Interest on margin loan 75.29 2.93% 75.86 3.86% 62.38 3.16% 47.32 2.40%

8. Other income 16.64 0.65% 22.43 1.14% 30.64 1.55% 26.95 1.37%

Total 2,567.17 100.00% 1,964.68 100.00% 1,971.15 100.00% 1,970.41 100.00%

Average Daily Turnover (Bt Million) 3,799.00 2,638 2,826 2,810

% Local Retail 88.43% 82.05% 78.70% 73.09%

%Local Institutional 3.01% 4.54% 4.33% 4.17%

% Foreign Institutional 8.56% 13.41% 16.97% 22.74%

Market Share 10.68% 8.18% 8.10% 8.57%

Income

20062008 20072009

23

Financial Statement

2009 2008 2007 2006 2005 2004

Jan-Dec Jan-Dec Jan-Dec Jan-Dec Jan-Dec Jan-Dec

Total Asset 7,125,777 5,342,035 6,796,294 5,514,546 6,329,122 6,628,170

Total Liabilities 2,596,921 1,129,534 2,623,608 1,501,052 2,281,537 2,559,813

Total Shareholders'

Equity

4,528,856 4,212,501 4,172,686 4,013,494 4,047,585 4,068,357

Total Securities and

Derivatives Business

Receivables and

accrued interest

receivables

3,920,920 1,850,707 3,425,257 1,786,235 2,445,432 4,382,433

Total Income 2,567,166 1,964,686 1,971,159 1,970,406 2,355,550 3,210,025

Net Income (Loss) 716,738 533,234 551,359 532,799 714,978 1,042,662

Net Income (Loss) per

share

1.26 0.94 1.00 0.98 1.31 1.91

The Weighted Average

Number of Ordinary

Share (Thousand

Share)

568,400 561,504 552,654 545,986 545,000 545,000

Remark: At the extra ordinary shareholders’ meeting No.2/2002 held on September 5,2002, the shareholders approved to change the par value of

the ordinary shares from Baht 10.00 per share to Baht 5.00 per share. So the par value for comparison every year is Baht 5.00

Unit : Thousand Baht

24

Financial Ratios

No. of Shares 570,145,000 565,387,100 556,361,700 548,087,100.00

2009 2008 2007 2006

Common size Jan.-Dec. Jan.-Dec. Jan.-Dec. Jan.-Dec.

Total Income 100.00% 100.00% 100.00% 100.00%

Brokerage fees 90.49% 85.97% 86.67% 84.28%

Fees and services income 2.48% 1.84% 1.25% 3.15%

Gain(loss) on trading in securities 0.41% -0.37% 0.34% 0.14%

Interest and Dividend Income 5.97% 11.42% 10.19% 11.06%

Other income 0.65% 1.14% 1.55% 1.37%

Total Cost 100.00% 100.00% 100.00% 100.00%

Variable Cost 58.34% 49.02% 49.40% 47.03%

Fixed Cost 41.66% 50.98% 50.60% 52.97%

Total Assets 100.00% 100.00% 100.00% 100.00%

Cash 29.53% 51.73% 31.05% 46.37%

Investment 5.61% 6.70% 6.18% 7.66%

Account Receivable 57.23% 32.31% 55.41% 36.43%

Other Assets 7.63% 9.26% 7.36% 9.54%

Total Liabilities 100.00% 100.00% 100.00% 100.00%

Account Payable 76.78% 72.62% 82.96% 76.04%

Accrued Expense 20.35% 21.71% 14.48% 20.44%

Other Liabilities 2.87% 5.67% 2.56% 3.52%

2009 2008 2007 2006

Ratio Analysis Jan.-Dec. Jan.-Dec. Jan.-Dec. Jan.-Dec.

ROA * 11.50% 8.79% 8.96% 9.00%

ROA (Annualized) 11.50% 8.79% 8.96% 9.00%

ROE * 16.40% 12.72% 13.47% 13.22%

ROE (Annualized) 16.40% 12.72% 13.47% 13.22%

Gross Margin 80.61% 81.26% 82.09% 83.34%

Net Margin 27.92% 27.14% 27.97% 27.04%

25

Assets

Balance Sheets

Liabilities & Equities

(Million Baht)

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Dec.05 Dec.06 Dec.07 Dec.08 Dec.09

TatalOthersSecurities Business Receivable - NetInvestment in Securities - NetCash and Deposit with Finacial Institution

(Million Baht)

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Dec.05 Dec.06 Dec.07 Dec.08 Dec.09

Liabilities

Shareholders' Equity

26

2,356

1,970 1,971 1,965

2,567

1,4151,254 1,233 1,248

1,566

715533 551 533

717

0

500

1,000

1,500

2,000

2,500

3,000

2005 (Jan-Dec) 2006 (Jan-Dec) 2007 (Jan-Dec) 2008 (Jan-Dec) 2009 (Jan-Dec)

Total Revenues Total Expenses (excl. corporate tax) Net Profit (Loss)

Profit & Loss

Bt.Million

27

Credit Outlook & NCR

Dec.09 Dec.08 Dec.07 Dec 06 Dec 05

Detail of Doubtful Account

Receivable- - - - -

Account receivable(Old Margin

Loan) – NPL before 1999 266,432,862.33 270,258,306.97 272,142,073.71 274,829,086.25 278,340,071.87

Account receivable(Old Margin

Loan) – 1999 to dated - - - - -

Account receivable - overdue cash

a/c before 19992,171,421.24 2,171,421.24 2,171,421.24 3,235,559.60 3,354,939.60

Account receivable - overdue cash

a/c after 1999 6,091,880.64 6,215,338.10 6,091,880.64 13,272,775.58 7,112,090.01

Accrued interest receivables -

margin loans 17,349,993.90 18,070,087.25 18,190,087.25 18,819,941.44 18,826,495.15

Allowance for doubtful accounts (292,043,784.36) (296,674,772) (298,492,438.04) (309,672,948.94) (307,633,596.63)

Dec.09 Dec.08 Dec.07 Dec 06 Dec 05

NCR 180.26 376.41 154.41 247.35 169.84

28

Allowance for doubtful accounts and Bad Debt

Allowance for doubtful accounts Dec.09 Dec.08 Dec.07 Dec 06 Dec 05

Beginning balance of period 296,674,772 298,492,438 309,672,949 307,633,597 343,282,909

Add Doubtful accounts 38,495 186,101 173,481 6,444,717 5,226,327

Less Bad debt written-off - - (4,603,120) - (9,028,051)

Less Reversal of doubtful accounts (4,669,483) (2,003,767) (6,750,872) (4,405,365) (31,847,588)

Ending balance of period 292,043,784 296,674,772 298,492,438 309,672,949 307,633,597

Bad Debt and Doubtful Accounts Dec.09 Dec.08 Dec.07 Dec 06 Dec 05

Provision for new Doubtful Debt 38,495 186,101 173,481 6,444,717 5,226,327

General provision - - - (30,000,000)

Received payment from Doubtful Debt (4,669,483) (2,003,767) (6,750,872) (4,405,365) (1,847,588)

Written off Bad Debt - 4,076,566 - 9,085,742

Provision for such Bad Debt - (4,603,120) - (9,028,051)

Total (4,630,988) (1,817,666) (7,103,945) 2,039,352 (26,563,570)

29

Existing

Clients

Business Strategy

BR

O

K

E

R

A

G

E

Investment

Banking

Research

New

Clients

Respectable research

Continuous IB

products

Dedicating marketing

with service minds

Stable & efficient IT

system & network

Professional

operation & service

Convenient location

country-wide

Prudent risk

management

30

KEST’s Vision

Be the leading broker in Thailand with high

standard of research analysis, technology and

services;

Be a creative and powerful investment bank

providing wide-range financial services for

capital/financial market;

As the slogan “Clients’ benefits are our Goal”.

31

HEAD OFFICE :

The Offices at Central World, 20th-21st Fl.,and 24th Fl.

999/9 Rama I Road, Pathumwan

Bangkok 10330, Thailand

Telephone : 0-2658-6300

Fax : 0-2658-6301

Customer Service Hotline:

Tel : 66(2)658-6300

Fax : 66(2) 658-6301

Email: [email protected]

www.kimeng.co.th

KIM ENG SECURITIES (THAILAND) PLC.

32

Documents

Kim Eng Securities Thailand) Public Company Limited · increased from 2,248 contracts in Jan - Dec 2008 to 2,720 contracts in Jan –Dec 2009, representing an increase by 21%. In